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FMBIX vs. VTEAX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Performance

FMBIX vs. VTEAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Municipal Bond Index Fund (FMBIX) and Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX). The values are adjusted to include any dividend payments, if applicable.

0.00%1.00%2.00%3.00%4.00%5.00%JuneJulyAugustSeptemberOctoberNovember
3.54%
3.26%
FMBIX
VTEAX

Returns By Period

The year-to-date returns for both stocks are quite close, with FMBIX having a 1.81% return and VTEAX slightly lower at 1.75%.


FMBIX

YTD

1.81%

1M

1.15%

6M

3.54%

1Y

5.75%

5Y (annualized)

0.45%

10Y (annualized)

N/A

VTEAX

YTD

1.75%

1M

1.16%

6M

3.25%

1Y

5.46%

5Y (annualized)

1.18%

10Y (annualized)

N/A

Key characteristics


FMBIXVTEAX
Sharpe Ratio1.361.78
Sortino Ratio1.952.60
Omega Ratio1.301.41
Calmar Ratio0.680.86
Martin Ratio4.586.65
Ulcer Index0.99%0.82%
Daily Std Dev3.40%3.06%
Max Drawdown-14.31%-12.74%
Current Drawdown-2.88%-1.22%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


FMBIX vs. VTEAX - Expense Ratio Comparison

FMBIX has a 0.07% expense ratio, which is lower than VTEAX's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.


VTEAX
Vanguard Tax-Exempt Bond Index Fund Admiral Shares
Expense ratio chart for VTEAX: current value at 0.09% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.09%
Expense ratio chart for FMBIX: current value at 0.07% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.07%

Correlation

-0.50.00.51.00.9

The correlation between FMBIX and VTEAX is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Risk-Adjusted Performance

FMBIX vs. VTEAX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Municipal Bond Index Fund (FMBIX) and Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.


Sharpe ratio
The chart of Sharpe ratio for FMBIX, currently valued at 1.36, compared to the broader market-1.000.001.002.003.004.005.001.361.43
The chart of Sortino ratio for FMBIX, currently valued at 1.95, compared to the broader market0.005.0010.001.952.04
The chart of Omega ratio for FMBIX, currently valued at 1.30, compared to the broader market1.002.003.004.001.301.32
The chart of Calmar ratio for FMBIX, currently valued at 0.68, compared to the broader market0.005.0010.0015.0020.000.680.84
The chart of Martin ratio for FMBIX, currently valued at 4.58, compared to the broader market0.0020.0040.0060.0080.00100.004.585.16
FMBIX
VTEAX

The current FMBIX Sharpe Ratio is 1.36, which is comparable to the VTEAX Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of FMBIX and VTEAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Rolling 12-month Sharpe Ratio0.001.002.003.004.00JuneJulyAugustSeptemberOctoberNovember
1.36
1.43
FMBIX
VTEAX

Dividends

FMBIX vs. VTEAX - Dividend Comparison

FMBIX's dividend yield for the trailing twelve months is around 2.51%, less than VTEAX's 3.06% yield.


TTM2023202220212020201920182017
FMBIX
Fidelity Municipal Bond Index Fund
2.51%2.31%1.80%1.42%1.59%0.77%0.00%0.00%
VTEAX
Vanguard Tax-Exempt Bond Index Fund Admiral Shares
3.06%2.75%2.06%1.61%1.97%2.28%2.24%0.34%

Drawdowns

FMBIX vs. VTEAX - Drawdown Comparison

The maximum FMBIX drawdown since its inception was -14.31%, which is greater than VTEAX's maximum drawdown of -12.74%. Use the drawdown chart below to compare losses from any high point for FMBIX and VTEAX. For additional features, visit the drawdowns tool.


-7.00%-6.00%-5.00%-4.00%-3.00%-2.00%-1.00%0.00%JuneJulyAugustSeptemberOctoberNovember
-2.88%
-1.22%
FMBIX
VTEAX

Volatility

FMBIX vs. VTEAX - Volatility Comparison

Fidelity Municipal Bond Index Fund (FMBIX) has a higher volatility of 1.53% compared to Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX) at 1.38%. This indicates that FMBIX's price experiences larger fluctuations and is considered to be riskier than VTEAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.50%1.00%1.50%JuneJulyAugustSeptemberOctoberNovember
1.53%
1.38%
FMBIX
VTEAX